Data startup Rubrik raises $261m from Bain, Lightspeed, gets valued at $3.3b

Rubrik founding team

Silicon Valley-headquartered cloud data management firm Rubrik, which also has operations in India, has raised $261 million in a Series E round of funding from new and existing investors, per an announcement on Tuesday.

Existing investors to participate in the funding included Lightspeed Venture Partners, Greylock Partners, Khosla Ventures, and IVP, while US-based alternative asset management firm Bain Capital came in as a new investor.

The latest round, which has valued Rubrik at $3.3 billion, brings its total equity funding to more than $553 million till date, the company said in a statement.

The startup attained unicorn status when it last raised $180 million from IVP, Greylock and Lightspeed at a valuation of $1.3 billion in April 2017.

Rubrik will use the new funding for general corporate purposes, future innovation and to support the launch of new products planned for 2019. It will also expand investment in go-to-market activities with partners including Microsoft, Cisco, AWS, SAP, Nutanix, Oracle, VMware, Google Cloud, Pure Storage, and others, the statement added.

“Our previous fundraising in 2017 was focused on global expansion and increasing our reach into the enterprise market. Now, with thousands of customers around the world, industry-leading customer satisfaction ratings, and numerous analyst and industry awards, we have customers asking us to solve new challenges,” said Bipul Sinha, co-founder and CEO at Rubrik.

“This new capital will speed the introduction of exciting new products in 2019 that will solve those customer challenges and significantly expand our strategic footprint in the enterprise,” he added.

Rubrik was founded in 2014 by Sinha, Arvind Jain, Soham Mazumdar and Arvind Nithrakashyap. The company has over 1,400 employees worldwide, with operations across the US, Ireland, the Netherlands, India, and Tokyo.

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Data startup Rubrik raises funds at $1.3b valuation

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.